HOUSING MARKET IN 'RECESSION'

Bessent Says Housing Market In ‘Recession,’ Urges
Fed To Act Faster On Rates

via themortgagepoint.com—Treasury Secretary Scott Bessent said in a Sunday interview that some sectors of the economy are in a recession or at risk of one.

The housing sector is among the areas of the economy experiencing softness now, Bessent noted in an interview on CNN’s State of the Union. “If the Fed brings down mortgage rates,” Bessent suggested, “they can end this housing recession.”

Though not directly impacted by Fed rate cuts, mortgage rates have dropped over the past few months, but the overall housing market remains weak.

Bessent said that the Trump administration worked to lower the deficit-to-gross-domestic-product ratio from 6.4% to 5.9% through government spending cuts, which should help to push down inflation. But he complained the central bank is not moving fast enough to bring down interest rates, he said.

“If we are contracting spending, then I would think inflation would be dropping,” he said. “If inflation is dropping, then the Fed should be cutting rates.”

He further cautioned that a failure to further cut rates could lead to a general recession.

The Fed cut interest rates by 25 basis points last week, the second such monthly cut. Though an additional cut was expected by many at the Fed’s December meeting (there is no scheduled meeting in November, Powell cautioned that such a cut is not a foregone conclusion during his remarks last week.

The tech sector has largely propped up other sectors of the economy this year.

“The tech sector has been the key driver of recent U.S. growth, with surging stock prices and heavy investment in equipment and software,” wrote Oxford Economics’ lead economist, Adam Slater, in a note shared with Fortune. “But this leaves the U.S. vulnerable if tech suffers a downturn—without tech investment, U.S. GDP would have barely grown in H1 2025, and business investment would have actually declined.”

Oxford Economics modeled two scenarios off the back of a tech downturn, an environment where investment slows and stock prices fell in tandem. The first, a U.S.-centered downturn with modest international spillover would see domestic GDP growth fall to 0.8% in 2026—which Slater writes is “flirting with recession.” The ripple effects would also.…READ MORE

The Current Miami Springs Market

DEMAND IS STILL THERE DESPITE HIGHER INTEREST RATES

There are thirty-six (36) active listings in the Miami Springs/Virginia Gardens real estate market this week. Sellers are seeing more price decreases on active listings. but high prices remain and demand has slowed. There are still qualified buyers looking for the right property. Timing is everything. Mortgage interest rates are expected to fluctuate between 6-6.5% the remainder of 2025. We expect additional rate cuts this year.

There are sixteen (16) active listings over $1 million. Fifteen (15) listings have had a price reduction, three (3) this week. Properties are staying on the market for longer but some houses still sell quickly. Days on the market (DOM) is averaging around 81. It all depends on pricing, condition, and location, location, location.

Inventory Breakdown:

There is one (1) property under $600,000; five (5) properties are priced between $600,000-$700,000; seven (7) between $700,000-$800,000; four (4) between $800,000-$900,000; three (3) are priced between $900,000-$1,000,000; fifteen (15) between $1-2 million; and one (1) is listed for over $2 million.

CALL US FOR AN EVALUATION

During the period of October 31, 2025 through November 7, 2025, there were reported 0 new listings, 3 closed sales, 0 pending sales, 1 active with contract, 0 expired listings, 1 cancelled listings, 0 temp off market, 3 price reductions, and 0 price increases.

HOW DOES YOUR HOUSE COMPARE?

The table below shows the current status of the Miami Springs/VG real estate market as of November 7, 2025. All closed sales are within the last 90 days.

*Disclaimer: The data relating to real estate displayed on this website and the chart above comes from the Miami Board of Realtors MLS. All listing information is deemed reliable but not guaranteed and can be independently verified.

 A complete list of all the properties for sale in Miami Springs or any other area of 

Miami-Dade County can be sent to you on regular basis. 

Request it at:  charlie@leonardrealestategroup.com

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